Comrad

Overview

Raised to Date: Raised: $82,247

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Republic

Start Date

08/25/2022

Close Date

12/26/2022

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    

Valuation Cap

$25,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

01/01/2023

Days Remaining

Funded

% of Min. Goal

329%

% of Max. Goal

8%

Likelihood of Max

Funded

Avg. Daily Raise

$669

# of Investors

160

Momentum

Funded

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Comrad

Year Founded

2015

Industry

Apparel & Fashion

Tech Sector

HealthTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Claymont, Delaware

Business Type

Growth

Company Website

Comrad, with a valuation of $25 million, is raising funds on Republic. The company makes premium compression socks designed for comfort and performance. The socks of Comrad soothe and energize legs and feet while people are standing, sitting, traveling, exercising, or working out. The socks are designed with specific ranges of compression that increase circulation and provide wellness benefits. Comrad is on a $10 million revenue run-rate as of Q2 2022 and has reported a 223% annual revenue growth since its launch. Andrew Ferenci founded Comrad in October 2015. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used to launch new products.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$4,297,364	$3,418,223
COGS	$946,144	$729,922
Tax	$0	$0
Net Income	$-1,644,286	$-1,071,971

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$414,282	$792,877
Accounts Receivable	$0	$0
Total Assets	$1,325,748	$1,311,437
Short-Term Debt	$3,878,132	$3,861,071
Long-Term Debt	$649,533	$214,040
Total Liabilities	$4,527,665	$4,075,111

Financials as of: 08/25/2022

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Compression socks were originally designed for medial use — to improve circulation or help with musculoskeletal ailments like plantar fasciitis. But thanks to the range of health benefits they offer, compression socks are becoming increasingly popular. You don’t have to be a nurse or have aches in your feet to enjoy improved blood flow, decreased swelling, and even lymphatic drainage.

Those benefits were exactly what Andrew Ferenci needed. He had a job that required him to travel regularly. The frequent plane rides were causing swelling and pain in his feet. He wanted a solution that didn’t scream “medical device,” something he could wear with his regular clothes that wouldn’t draw attention or distract from his work. Thus, Comrad was born.

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